Top oil exporter Saudi Arabia is expected to slash crude prices for Asian buyers in January to the lowest in years, largely tracking a slump in Middle East benchmark prices last month, traders said on Monday. The January official selling price (OSP) for flagship Arab Light may fall by 70 …

On December 1, Azerbaijan’s state oil company, SOCAR, started supplying natural gas to Slovakia’s Slovenský plynárenský priemysel (SPP), the country’s largest state-owned energy operator. This comes just a month after SPP signed a short-term pilot contract to buy natural gas from Azerbaijan as it prepares for a possible halt to …

Gazprom’s natural gas flows via the Power of Siberia pipeline to China have reached full capacity of 38 billion cubic meters annually, the Russian gas giant said on Monday. Gazprom started sending gas to China via the Power of Siberia pipeline at the end of 2019, and flows have now …

Chinese scientists have uncovered a “supergiant” deposit of high-quality gold ore hidden near some of the country’s existing gold mines. The vast reserve, which could be the largest single reservoir of the valuable metal left anywhere on Earth, could end up being the largest known deposit of the precious metal …

Saudi Arabia’s Neom is perhaps the world’s most controversial architectural project at present, covering 10,200 square miles – almost the size of Belgium – and incorporating renewable energy projects and advanced smart technologies in the middle of the desert. Following several construction delays, rising costs, and criticism over structural aspects …

Russia remained the largest crude supplier to India in November, accounting for 38% of India’s total crude oil imports. However, imports from the country registered a marginal decline of 4% to 1.60 million barrels per day, against 1.67 million barrels per day in October, data from Vortexa showed. The country …

A source in the state-owned North Oil Company (NOC) revealed on Wednesday that representatives from British Petroleum (BP) arrived in the northern Iraqi governorate of Kirkuk to meet with NOC officials in the hope of finalizing an agreement to begin developing oil fields in the area. The source told Shafaq …

The US Energy Information Administration (EIA) announced on Sunday that Iraq was the second-largest oil exporter to the United States during the past week, surpassing Saudi Arabia and Mexico. The EIA mentioned that the average US imports of crude oil during the past week from eight major countries reached approximately …

An average of 13.4 MMbpd of crude oil was produced in the United States during August 2024, a new record according to data from the U.S. Energy Information Administration Petroleum Supply Monthly. More crude oil was produced in the United States during August 2024 than during December 2023, when the …

Offshore oil is back in a big way. After years of costly offshore oil contacts being put on ice due to lower-than-ideal oil prices and uncertain future demand, these projects have been roaring back to life around the world. But the future of the sector remains uncertain as a looming …